Different Types of Industries- Primary, Secondary & Tertiary

Mining, forestry, farming, and fishing are the jobs in the primary sector. Manufacturing, such as the production of automobiles and steel, are ... Home(current) AboutUs Blog Category GoldRate Khata Payments BusinessTips AccountingandInventory GST IncomeTax Tally Salary MoneyManagement News We'reHiring Newsroom ContactUs QRPage Login All GoldRate Payments BusinessTips GST Salary News ViewMore Khata AccountingandInventory IncomeTax Tally MoneyManagement English Malayalam Bengali Gujarati Odia Marathi Telugu Kannada Tamil Assamese Hindi Punjabi English Malayalam Bengali Gujarati Odia Marathi Telugu Kannada Tamil Assamese Hindi Punjabi Blog /BusinessTips Copytoclipboard CopyLink Copytoclipboard writtenbyKhatabook|August7,2021 DifferentTypesofIndustries-Primary,Secondary&Tertiary Anindustrycomprisesthesystematicproductionofgoodsandservicesforsale.Acountry'seconomyisdeterminedbyitsindustry.We'lllookattheeconomictransformationinthisarticlebytalkingaboutthethreetypesofeconomicsectors:primary,secondary,andtertiary. 3differenttypesofindustries I.PrimaryIndustry:  Theprimarysectorisconcernedwiththeextractionofnaturalresourcesorrawmaterialsfromtheearth.Theeconomicoperationsofaprimarysectorareusuallydependentonthenatureofthatparticularplace.Theseindustriescreateproductsthatwillbesoldorsuppliedtothegeneralpublic.Aprimaryindustry'seconomicoperationsrevolvearoundusingtheplanet'snaturalresources,suchasvegetation,earthwater,andminerals. Mining,farming,andfishingareexamplesofprimaryindustries.Thisextractionyieldsrawmaterialsandstaplefoods,coal,wood,iron,andcorn. Primaryindustrycanbedividedintotwotypes:  a.Geneticindustry:Thegeneticsectorencompassesthedevelopmentofrawmaterialsthatcanbeimprovedviahumaninvolvementinthemanufacturingprocess.Agriculture,fisheries,forestry,&livestockmanagement,areallgeneticindustriesvulnerabletoscientific&technologicaladvancementsinrenewableresources. b.Extractiveindustry:Theextractiveindustryproducesfiniterawmaterialsthatcannotbereplenishedthroughcultivation.Mineraloresaremined,thestoneisquarried,andmineralfuelsareextractedintheextractiveindustries. Theprimaryindustryisoftenthemostimportantsectorinemergingcountries.Whenweconsideranimalfarmingasanexample,itissignificantlymoreimportantinAfricathaninanyothercountry. Whattypesofpeopleworkintheprimarysector? Farmers,coalminers,andhuntersareamongtheworkersintheprimarysector.Itisawell-knowntruththatasacountrydevelops,itsdependenceonprimaryindustrydecreases,anditsdependenceonsecondary&tertiaryindustriesincreases. AlsoRead: Top5GovernmentLoanSchemesforSmallBusinessinIndia Whatpercentageoftheworkforceisemployedintheprimarysector? Ethiopia,inEastAfrica,isanexampleofadevelopingeconomy,withprimaryindustriesaccountingfor88%ofemployment,tertiaryindustriesaccountingfor10%.Secondarysectorsaccountfor2%whereas,intheindustrialisedcountriesoftheUnitedStatesandtheUnitedKingdom,employmentintheprimaryindustryisjust3%.Thesecondaryindustryis25%,thetertiaryindustryis70%,andthequaternaryindustryis2%. Primaryindustryclassifications Primaryindustriesprofitfromthenaturalresourcesthatcanbeobtainedordevelopedontheearth.Thefollowingaresomeexamplesofprimaryindustries: Farming:  Farmersusetheirlandtogrowplantsandrearanimalsthatcanbeusedtomakefoodorothergoods.Agricultureisoneoftheindustriesthatmakesuptheprimarysector.Itistheskillofproducingrawfoodusingfarmingtechniques. Thegoodsarecategorisedintofourcategories:Rawmaterials,textiles,food,andfuel.Thefoodcategoryincludeseggs,milk,vegetables,meat,oil,andfruits.Cotton,whichisusedtomakegarments,isusedasarawmaterialinagriculture. Mining:  Miningistheprocessofextractingrawresourcesfromtheearth,suchasrock,slit,metals,clay,gemstones,&minerals.Thereservesandresourcesofaminingcorporationareitsmostvaluableassets.Thecontemporaryminingprocesscomprisesdeterminingthepotentialprofitofaminingoperation,locatingoredeposits,andextractingpreciouscommodities. Thesecondarysectoralsoreliessignificantlyonminingforrawmaterialstomanufactureandproduceawiderangeofkeyproducts. Non-renewableresourcessuchasnaturalgas,petroleum,andwaterarealsoincludedinthedefinitionofmining. Fishing:  Oneofthemostsignificantprimaryindustriesintheworldisfishing.Itentailsvarioustaskssuchasselling, shipping,marketing,preserving,andprocessingfishproducts.Industrialfishfarmingistheworld'sfastest-growingfoodproductionmethod,andfishfarmscurrentlyprovidealmosthalfoftheworld'sseafood. Forestry:  Theforestproductsindustrycontributessignificantlytoglobaleconomies.Forestryisasignificantsourceofrawmaterialsforawiderangeofindustries.Alltypesofforestsectorproductscontributetomeetingsomeofmodernsociety'snecessitiesandincreasingglobalhumanwell-being. II.Secondaryindustry:  Afterprimaryindustrieshaveaccumulatedrawmaterials,secondaryindustriesenterintothepicture.Theconstructionandmanufacturingindustriesareprimarilyincludedinthesecondaryindustry.Thetransitionofrawmaterialsintofinisheditemsispartofthesecondarysector.Forexample,woodisusedtomakefurniture,steelisusedtomakeautomobiles,andtextilesareusedtomakeclothing. Inordertomanufactureproductsthatwillbemarketedtothegeneralpublic,secondaryindustriesfrequentlyusemassivemachineryinproductionplants.Evenhumanpowercanbeemployedtopackagetheseitemsfordistributiontoretailersandotherlocations. Mostofthesebusinessesgeneratealargeamountofwaste,whichcanresultinsignificantenvironmentaldifficultiesandpollution. Secondaryindustryisdividedintotwocategories: a.Heavyindustry:Large-scalemanufacturingoftennecessitatesasignificantcapitalinvestmentinequipmentandmachinery.Heavyandmassiveitemsareamongthefeaturesoftheheavyindustry.Itcaterstoavastanddiversemarket,whichincludesvariousmanufacturingsectors. Thisindustryisprimarilymadeupofconstruction,transportation,&manufacturingenterprises.Ships,petroleumprocessing,machineryproductionareamongthemostcommonoperationsinthisheavyindustry. b.Lightindustry: Thelightindustryusuallyrequiresarelativelysmallerquantityofrawmaterials,lesserpowerandsmallerarea.Theitemsproducedinlightindustriesareminimal,andtheyareveryeasytotransport. Home,personalproducts,food,beverages,electronics,andapparelareamongthemostcommonoperationsinthislightindustry. Secondaryindustryclassifications Thefollowingaresomeexamplesofsecondaryindustries: Consumergoods:  Fast-movingconsumergoodsarecategorisedunderSecondaryindustry.Conversionofrawmaterialsandconvertstofinishedgoodsisanintegralstepforobtainingconsumergoods.Theseareprocessedfoods,tea,sugar,readytoeatfoods,cosmetics,toiletries,medicines,perishableitems,vegetables,fruits,frozenfoods,cookies,officesupplies,cleaningproducts,andclothing. Manufacturing:  Thiscoversthemanufactureofphysicalgoodslikeautomobiles,furniture,andhouseware. Construction:  Anotherexampleofthesecondaryindustryistheconstructionofhouses,buildings,andotherstructures. CraftandFashion:  Clothing,footwear,andhandcraftedcraftsaredesigned,produced,andmarketedasperthesecondaryindustry. III.TertiaryIndustry:  Tertiaryindustriesmarketsecondaryindustries'productstoconsumers.Theyareusuallynotinvolvedincreatingproductsbutratherintheprovisionofservicestothegeneralpublicandotherindustries.Thecreationofdifferentnatureservices,suchasexperiences,discussion,access,isthemostsignificantfeatureofthetertiarysector. Thetertiarysectorisdividedintotwocategories. a.Thefirstgroupconsistsofbusinessesthatareintomakingmoney,suchasthoseinthefinancialsector. b.Thesecondgroupconsistsofthenon-profitsector,whichincludesservicessuchaspubliceducation. TheindustriesoftheTertiarysectorincludeinvestment,finance,insurance,banking,wholesale,retail,transportation,realestateservices;resaletrade;professional,legal,hotels,personalservices;tourism,restaurants,repairandmaintenanceservices,police,security,defenceservices,administrative,consulting,entertainment,media,informationtechnology,health,socialwelfareandsoon. Tertiaryindustryclassifications Telecommunications:  Thisisafieldthatdealswiththetransferofsigns,words,signals,messages,images,sounds,orinformationofanytypeacrossradio,theinternet,andtelevisionnetworks. Professionalservices:  Thetertiarysectorincludesavarietyofprofessionsthatneedspecialisedknowledgeandtraininginthearts&sciences.Engineers,architects,surgeons,attorneys,andauditorsareamongthelicencedprofessionalsinthissector. Franchises:  Itisapracticeofsellingtherighttoutiliseaparticularbusinessmodelandbrandforasetperiod. Keyfactsofthetertiarysector Thetertiaryindustryistheeconomy'sservicessector,whichincludesfinancialservices,medicalprofessionals,educators,hairdressers,andpersonaltrainers,amongotherthings. Thetertiarysectorisclassifiedintotwocategories:profitandnon-profit. Intermsofrevenuegeneration,thetertiarysectorispresentlythelargestsectoroftheworldeconomy. Economistshavediscoveredthatwhenacountry'seconomyadvances,thetertiarysectorexpandswhiletheprimarysector,whichgeneratesrawresources,falls. DifferencebetweenPrimary,SecondaryandTertiarySector:   Primarysector   Secondarysector   Tertiarysector Theprimarysectorconsistsoftheagriculturalindustryandassociatedservices. Thesecondarysectorconsistsofthemanufacturingindustry. Thetertiarysectorconsistsoftheservicesector. Theprimarysectorsuppliesrawmaterialsforgoodsandservices. Thesecondarysectorconvertsonegoodintoanotherbyincreasingitsutility. Thetertiarysectorhelpstheprimary&secondarysectorsbyprovidingservices. Traditionalmethodsareemployedintheprimarysector,whichislargelyunorganised. Thesecondaryindustryismoreorganisedandemploysmoreefficientproductionprocesses. Thetertiarysectoriswell-organisedandusessophisticatedlogisticalsystemstocarryoutitsduties. Agriculture,forestry,fishing,andminingareallpartoftheprimarysector. Hugebusinesses,manufacturingunits,smallscalebusinesses,largecorporations,andmultinationalenterprisesareallpartofthesecondarysector. Thetertiarysectorincludesbanking,insurance,finance,trade,andadministration. Incomparisontotheotherdevelopedcountries,Indiaemploysahugenumberofpeopleinthissector. Sinceemploymentinthisarearequiresaspecialisedsetofabilities,theemploymentrateisstableinthesecondarysector. Theemploymentshareofthissectorisgrowingrapidly. AlsoRead: 10BestWholesaleBusinessinIndia2021-22 Conclusion Primary,secondary,andtertiaryindustriesaredifferenttypesofindustriesinIndia.Allofthemplayimportantrolesineconomicgrowth.Theyallcontributetothecountry'sgrossdomesticproduct(GDP).AgricultureisstilltheprimarysourceofrevenueinIndia.Agricultureiscrucialtothesuccessoftheothertwosectors.Allthreetypesofindustries areequallyvitalinadevelopingcountrysuchasIndia. FAQs 1. Whataretheemploymentopportunitiesintertiarysectors? Employmentinthetertiarysectorisontherise.Itincludesfinance,administration,banking,insurance,andtrade. 2.Howmanytypesofindustriesarethere? Therearemainly3 typesofindustries primary,secondaryandtertiary. 3.Whatistheinterdependencebetweenprimary,secondary,andtertiaryindustries? Naturalproductssuchasdairy,fisheries,agriculture,forestryaremostlydealtwithbytheprimarysector.Inordertodevelopnewproductsandservices,thesecondaryindustryneedsitemsfromtheprimarysector.Thetertiaryindustryisresponsibleformarketingthemanyproductsproducedbytheprimaryandsecondarysectors.Asaresult,allthreesectorsareinterconnectedandineffectivewithoutoneanother. 4.Whatarethejobsintheprimary,secondary&tertiarysectors? Mining,forestry,farming,andfishingarethejobsintheprimarysector.Manufacturing,suchastheproductionofautomobilesandsteel,areoccupationsunderthesecondarysector.Teaching,finance,bankingjobsareexamplesoftertiarycareers. 5.Whatactivitiesareinvolvedinthetertiarysector? Threekeyactivitiesfallunderthetertiarysector:tertiaryactivities,Quaternaryactivitiessuchaseducation,governmentwork,cultureandmediafollowedbyQuinaryactivitiessuchasdevelopingnewideas,re-evaluatingexistingideas,andusingnewtechnologiesetc. Thetertiarysectorcanbeclassifiedintothefollowingcategories.TransportationincludesRoadnetwork,waterways,Air,trade,andcommerce,includingwholesale&retailtrade,Services,andCommunication. 6.Whataretheprimaryandsecondaryindustries'significantdifferences? Primaryindustriesareconcernedwiththeextractionandmanufactureofrawmaterialssuchaswood,coal,grain&iron.Secondaryindustriescomprisetheprocessingofrawmaterialsintovariousgoods,suchassteelinautomobilemanufacturingandthecreationoftextiles. 7.Explainthetertiarysectorwithexamples? Thetertiarysectorprovidescommerce,finance,realestateactivities, education,transportation,health,andsocialwork.Thissectorprovidesbothservicesandoperationalframeworksforbusinesses. Tertiaryindustriesincludecompaniesintheshippingandtransportationindustries,suchasrailroadsortruckers,wheretheonlyconcentrationisonmovinggoods.Itmayalsoincludepeople'stransportation,suchascabs,citybusnetworks,andsubways. Hotelsandresorts,andfoodserviceproviderssuchasrestaurantsareallpartofthetertiaryindustry.Personalservices,whichincludehaircutstotattoos,fallintothiscategory. Thetertiaryindustryincludespetgroomers,strayanimalcarecentres,andanimalbreeders,amongotherthings. PreviousPost 9BestSmallandProfitableBusinessIdeasinTamilNadu NextPost HowToStartAScrapBusinessInIndia? KhataBookUdharBahiKhata,CreditLedgerAccount DownloadTheApp EffectiveStepsToStartAGroceryStoreInIndiaWithLowestInvestment EffectiveStepsTo… RelatedPosts BestBusinessNameIdeasWithBrandNameGenerators BestSmallBusinessIdeasUnder1Lakh Step-to-StepGuideonStartingaSecond-HandMotorBikeShowroom WhatisMcDonald'sFranchiseCostinIndia? HowtoStartACarDealershipBusinessinIndiainEasySteps? Domino'sFranchiseinIndia:Requirements,ResponsibilitiesandProfits TheHistoryBehindtheTopSportsBrandsintheWorld Whatarethe6ProfitableDealershipBusinessIdeasinIndia? HowtostartyourownConsultancyFirminIndia?